Election Committee

Principles for the appointment of the nomination committee

The Nomination Committee shall consist of the Chairman of the Board of Directors and one representative of each of the three largest shareholders based on the ownership in the company at the end of the third quarter of the financial year. Should any of the three largest shareholders refrain from appointing a representative to the Nomination Committee, the right shall pass to the shareholder who, after these three shareholders, has the largest shareholding in the company. The Chairman of the Board of Directors contacts the three largest shareholders in terms of voting rights based on shareholder statistics as of September 30, 2019, each of which appoints one member to form the Nomination Committee together with the Chairman of the Board of Directors. The member representing the largest shareholder shall be appointed as chairman and convener of the Nomination Committee, unless the Nomination Committee unanimously appoints another member.

If a shareholder who appointed a member of the Nomination Committee is no longer one of the three largest shareholders, the member appointed by that shareholder shall make his or her seat available and the shareholder who has become one of the three largest shareholders shall be entitled to appoint a representative to the Nomination Committee. However, unless there are special reasons, there shall be no change in the composition of the Nomination Committee if there is only a marginal change in ownership or if the change occurs later than three months before the Annual General Meeting. However, shareholders who have become one of the three largest shareholders as a result of a significant change in ownership later than three months before the meeting shall be entitled to appoint a representative who shall be entitled to take part in the work of the nomination committee and attend its meetings. In the event that a member leaves the nomination committee before its work is completed, the shareholder who appointed the member shall appoint a new member. If that shareholder is no longer one of the three largest shareholders, a new member shall be appointed in the order set out above. Shareholders who have appointed a representative as a member of the Nomination Committee have the right to dismiss such member and appoint a new representative as a member of the Nomination Committee.

Changes in the composition of the nomination committee shall be announced immediately. The Nomination Committee's term of office runs until a new Nomination Committee is appointed. The Nomination Committee shall perform its duties in accordance with the Swedish Corporate Governance Code.